Currency on course for best day since March 2020, while bitcoin also climbs
The dollar looks set for its biggest one-day rise against other big currencies since March 2020 and bitcoin has jumped to an all-time high amid a jump in “Trump trades” as markets increasingly bet on a US election victory for the former president.
Donald Trump declared victory on Wednesday morning after taking the key swing state of Pennsylvania. Republican Trump led Democrat Kamala Harris by 267 electoral votes to 214 on Wednesday morning, with 270 electoral votes needed to win the presidency.
The US currency’s climb began after very early indications of a Republican win in Georgia and gathered pace throughout the day.
The dollar index – which measures the currency against six major peers including the euro and yen – advanced 1.63% to 105.04 as of 0615 GMT, and was earlier as high as 105.19, a four-month peak.
